Four-Unit Mixed-Use
New
For Sale
$950,000
122 Foster Street, Peabody, MA 01960
A commercial space and three two-bedroom apartments share one building.
Property Size3,591 SF
Price / SF$264.55
Days on Market7
Property Features for 122 Foster Street
General Information
Standard status
Active
Size
3,591 SF
Property subtype
4 Family - 4 Units Up/Down
Building Details
Year Built
1890
Listing Agency:
Horvath & Tremblay
(781) 776-4000
Listed By:
Stephen Girolamo · License #9552229
(978) 406-1789
Source:
Lockandkeyre
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 4 at 10:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Horvath & Tremblay
Investment Insights
Based on property information with market context.
The 3,591-square-foot building contains one commercial unit and three apartments, each with two bedrooms and one bathroom. It occupies a 0.14-acre parcel and dates to 1890. Three tandem parking spaces can accommodate six cars. Zoning is BN2.
In Peabody, the property connects to Route 114, Route 1, and Interstate 95/Route 128, with retail corridors and residential neighborhoods in the surrounding area. Tenants pay directly for gas heating, hot water, and separately metered electricity; the landlord pays for city water and sewer.
In Peabody, the property connects to Route 114, Route 1, and Interstate 95/Route 128, with retail corridors and residential neighborhoods in the surrounding area. Tenants pay directly for gas heating, hot water, and separately metered electricity; the landlord pays for city water and sewer.
Key Highlights
- Three apartments, each with 2 bedrooms and 1 bathroom, plus one commercial unit
- 3,591 square feet of gross living area
- 0.14‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,718
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,454,360
$1.5M
Cap Rate 7%
$1,038,829
$1.0M
Cap Rate 9%
$807,978
$808.0K
Market Conditions
NOI Build-Up for 3,591 SF
Gross rent
$129.3K $36.00/SF
− Vacancy
−$12.9K −$3.60/SF
EGI
$116.3K $32.40/SF
− OpEx
−$43.6K −$12.15/SF
NOI
$72.7K $20.25/SF
Area
Essex County, MA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,454,360
Cap Rate 7%
$1,038,829
Cap Rate 9%
$807,978
Alternative Uses
Best Use
Mixed Use
$1.04M
$909.0K – $1.21M
NOI $72,718 @ 7.0% cap · market cap 7.65%
Second Best
Specialty Retail
$948.2K
$829.7K – $1.11M
NOI $66,377 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $148,810 @ 7.0% cap · market cap 15.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,197
Businesses Nearby
Explore this area
Business Placement
Demographics for 01960, MA
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,385
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A commercial space and three two-bedroom apartments share one building.
Where is this mixed-use property located?
The property is located at 122 Foster Street Peabody, MA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three apartments, each with 2 bedrooms and 1 bathroom, plus one commercial unit; 3,591 square feet of gross living area; 0.14‑acre parcel
